$MATV
Mativ Holdings, Inc.

2020 Q2 Form 10-Q Financial Statement

#000100062320000120 Filed on August 05, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2 2019 Q1
Revenue $254.2M $269.9M $258.0M
YoY Change -5.82% -0.18% -1.49%
Cost Of Revenue $179.9M $190.9M $190.1M
YoY Change -5.76% -1.09% 0.11%
Gross Profit $74.30M $79.00M $67.90M
YoY Change -5.95% 2.07% -5.69%
Gross Profit Margin 29.23% 29.27% 26.32%
Selling, General & Admin $34.70M $30.70M $34.20M
YoY Change 13.03% 0.33% 5.23%
% of Gross Profit 46.7% 38.86% 50.37%
Research & Development $3.600M $3.700M $3.300M
YoY Change -2.7% -9.76% -19.51%
% of Gross Profit 4.85% 4.68% 4.86%
Depreciation & Amortization $14.40M
YoY Change -7.69%
% of Gross Profit 21.21%
Operating Expenses $38.30M $34.40M $37.50M
YoY Change 11.34% -0.86% 2.46%
Operating Profit $34.40M $44.20M $30.40M
YoY Change -22.17% 4.99% -13.14%
Interest Expense $8.100M $15.10M $7.800M
YoY Change -46.36% 128.79% 25.81%
% of Operating Profit 23.55% 34.16% 25.66%
Other Income/Expense, Net -$300.0K -$2.700M -$600.0K
YoY Change -88.89% 440.0% 100.0%
Pretax Income $26.00M $26.40M $22.00M
YoY Change -1.52% -24.57% -22.81%
Income Tax $5.400M $5.200M $4.400M
% Of Pretax Income 20.77% 19.7% 20.0%
Net Earnings $21.50M $20.50M $17.40M
YoY Change 4.88% -20.54% -15.12%
Net Earnings / Revenue 8.46% 7.6% 6.74%
Basic Earnings Per Share $0.69 $0.66 $0.57
Diluted Earnings Per Share $0.68 $0.66 $0.56
COMMON SHARES
Basic Shares Outstanding 30.79M shares 30.66M shares 30.62M shares
Diluted Shares Outstanding 31.01M shares 30.81M shares 30.72M shares

Balance Sheet

Concept 2020 Q2 2019 Q2 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $63.90M $87.80M $83.40M
Short-Term Investments
Other Short-Term Assets $8.900M $6.900M $7.800M
YoY Change 28.99% -4.17% -3.7%
Inventory $172.1M $154.2M $154.5M
Prepaid Expenses
Receivables $151.3M $166.6M $164.2M
Other Receivables
Total Short-Term Assets $404.4M $441.7M $430.4M
YoY Change -8.44% 8.69% -1.13%
LONG-TERM ASSETS
Property, Plant & Equipment $325.5M $333.4M $333.4M
YoY Change -2.37% -3.84% -8.33%
Goodwill $397.9M $338.0M $338.3M
YoY Change 17.72% -0.56% -1.43%
Intangibles $321.2M $262.3M $266.6M
YoY Change 22.46% -7.87% -9.38%
Long-Term Investments $52.60M $51.00M $52.20M
YoY Change 3.14% -23.65% -26.27%
Other Assets $72.40M $62.60M $64.40M
YoY Change 15.65% 56.5% 63.87%
Total Long-Term Assets $1.174B $1.048B $1.055B
YoY Change 12.03% -2.87% -5.09%
TOTAL ASSETS
Total Short-Term Assets $404.4M $441.7M $430.4M
Total Long-Term Assets $1.174B $1.048B $1.055B
Total Assets $1.578B $1.489B $1.486B
YoY Change 5.96% 0.29% -3.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $53.10M $60.90M $72.10M
YoY Change -12.81% 0.16% 17.81%
Accrued Expenses $77.60M $77.90M $63.10M
YoY Change -0.39% 11.44% -8.28%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $2.600M $1.900M $3.100M
YoY Change 36.84% -36.67% -18.42%
Total Short-Term Liabilities $136.7M $142.1M $139.7M
YoY Change -3.8% 4.33% 0.43%
LONG-TERM LIABILITIES
Long-Term Debt $666.4M $604.7M $617.2M
YoY Change 10.2% -5.49% -7.99%
Other Long-Term Liabilities $71.40M $68.80M $66.10M
YoY Change 3.78% 16.81% 4.59%
Total Long-Term Liabilities $737.8M $673.5M $683.3M
YoY Change 9.55% -3.61% -6.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $136.7M $142.1M $139.7M
Total Long-Term Liabilities $737.8M $673.5M $683.3M
Total Liabilities $970.7M $916.8M $923.6M
YoY Change 5.88% -2.74% -6.24%
SHAREHOLDERS EQUITY
Retained Earnings $654.1M $617.6M $610.8M
YoY Change 5.91% 6.08% 7.2%
Common Stock $3.100M $3.100M $3.100M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $607.4M $572.6M $562.1M
YoY Change
Total Liabilities & Shareholders Equity $1.578B $1.489B $1.486B
YoY Change 5.96% 0.29% -3.97%

Cashflow Statement

Concept 2020 Q2 2019 Q2 2019 Q1
OPERATING ACTIVITIES
Net Income $21.50M $20.50M $17.40M
YoY Change 4.88% -20.54% -15.12%
Depreciation, Depletion And Amortization $14.40M
YoY Change -7.69%
Cash From Operating Activities $13.00M
YoY Change -40.91%
INVESTING ACTIVITIES
Capital Expenditures $7.300M
YoY Change 21.67%
Acquisitions $0.00
YoY Change
Other Investing Activities -$1.100M
YoY Change -237.5%
Cash From Investing Activities -$7.600M
YoY Change 5.56%
FINANCING ACTIVITIES
Cash Dividend Paid $13.60M
YoY Change 3.03%
Common Stock Issuance & Retirement, Net $900.0K
YoY Change -64.0%
Debt Paid & Issued, Net $600.0K
YoY Change -93.81%
Cash From Financing Activities -$15.30M
YoY Change -42.91%
NET CHANGE
Cash From Operating Activities $13.00M
Cash From Investing Activities -$7.600M
Cash From Financing Activities -$15.30M
Net Change In Cash -$10.40M
YoY Change -3.7%
FREE CASH FLOW
Cash From Operating Activities $13.00M
Capital Expenditures $7.300M
Free Cash Flow $5.700M
YoY Change -64.38%

Facts In Submission

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us-gaap Nature Of Operations
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General<div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;">Nature of Business</span></div><div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> </span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Schweitzer-Mauduit International, Inc. ("SWM," "we," or the "Company"), headquartered in the United States of America, is a multinational diversified producer of highly engineered solutions and advanced materials for a variety of industries. The Company maintains two operating product line segments: Advanced Materials &amp; Structures and Engineered Papers.</span></div><div style="text-align:justify;"><span><br/></span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The Advanced Materials &amp; Structures ("AMS") segment produces mostly resin-based rolled goods such as nets, films and meltblown materials, typically through an extrusion process or other non-woven technologies. AMS also provides converting and coating services. These products are used in a variety of specialty applications across the filtration, transportation, infrastructure and construction, medical, and industrial end-markets. </span></div><div style="text-align:justify;"><span><br/></span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The Engineered Papers ("EP") segment primarily serves the tobacco industry with production of various cigarette papers and reconstituted tobacco products ("Recon"). Traditional reconstituted tobacco leaf ("RTL") is used as a blend with virgin tobacco in cigarettes and used as wrappers and binders for cigars. Recon, as well as low ignition propensity ("LIP") cigarette paper, a specialty product with fire-safety features, are two key profit drivers, which together account for more than half of segment net sales. The EP segment also produces non-tobacco papers for premium applications, such as energy storage and industrial commodity paper grades.</span></div><div style="text-align:justify;"><span><br/></span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">We conduct business in over 90 countries and operate 24 production locations worldwide, with locations in the U.S., Canada, United Kingdom, France, Luxembourg, Belgium, Russia, Brazil, China and Poland. We also have a 50% equity interest in two joint ventures in China. The first, China Tobacco Mauduit (Jiangmen) Paper Industry Ltd. ("CTM"), produces cigarette and porous plug wrap papers and the second, China Tobacco Schweitzer (Yunnan) Reconstituted Tobacco Co. Ltd. ("CTS"), produces RTL.</span></div><div style="text-align:justify;"><span><br/></span></div><div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;">Basis of Presentation</span></div><div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> </span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The accompanying unaudited condensed consolidated financial statements and the notes thereto have been prepared in accordance with the instructions of Form 10-Q and Rule 10-01 of Regulation S-X of the Securities and Exchange Commission ("SEC") and do not include all of the information and disclosures required by accounting principles generally accepted in the United States of America ("U.S. GAAP"). However, such information reflects all adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary for a fair statement of results for the interim periods.</span></div><div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> </span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The results of operations for the three or six months ended June 30, 2020 are not necessarily indicative of the results to be expected for the full year. The unaudited condensed consolidated financial statements and these notes thereto included herein should be read in conjunction with the audited consolidated financial statements and the related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, as filed with the SEC on March 2, 2020.</span></div><div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> </span></div><div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;">Principles of Consolidation</span></div><div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> </span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The condensed consolidated financial statements include the accounts of the Company and its wholly-owned, majority-owned and controlled subsidiaries. The Company’s share of the net income of its 50%-owned joint ventures in China is included in the condensed consolidated statements of income as Income from equity affiliates, net of income taxes. Intercompany balances and transactions have been eliminated. </span></div><div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;">Use of Estimates</span></div><div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> </span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The preparation of financial statements in conformity with U.S. GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses and related disclosures of contingent assets and liabilities in the condensed consolidated financial statements and accompanying notes. Estimates are used for, but not limited to, inventory valuation, useful lives of tangible and intangible assets, fair values, sales returns and rebates, receivables valuation, pension, postretirement and other benefits, restructuring and impairment, taxes and contingencies. Furthermore, the Company considered the potential impact from the global economic and social disruption caused by the novel coronavirus (“COVID-19”) in estimates used in the Company’s financial statements as of and for the period ended June 30, 2020. The Company determined changes to these estimates did not have a material impact on our assessment of recoverability of our assets, including Accounts receivable, net, Goodwill, Intangible assets or long-lived assets. There may also be long-term undetermined effects on some of our customers and suppliers, and as a result of these uncertainties, actual results could differ materially from these estimates and assumptions.</span></div><div style="text-align:justify;"><span><br/></span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;">Recently Adopted Accounting Standards</span></div><div style="text-align:justify;"><span><br/></span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">In March 2016, the FASB issued ASU 2016-13, "Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments (Topic 326). The update requires that an entity measure and recognize expected credit losses for certain financial instruments, including trade receivables, as an allowance that reflects a current estimate of credit losses expected to be incurred. The Company adopted this guidance as of January 1, 2020 on a prospective basis. There was no material impact upon adoption and the Company does not expect the provisions of this update to have a material impact on the condensed consolidated financial statements.</span></div><div style="text-align:justify;"><span><br/></span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">In January 2017, the FASB issued ASU 2017-04, "Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment." The amendment eliminates the second step of the analysis that required the measurement of a goodwill impairment by comparing the implied value of a reporting unit’s goodwill and the goodwill’s carrying amount. While the provisions of the standard will simplify the measurement of goodwill impairments, the Company does not expect a material impact from adoption, which was effective as of January 1, 2020. </span></div><div style="text-align:justify;"><span><br/></span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurements." The new standard modifies the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurement, based on the concepts in the Concepts Statement, including the consideration of costs and benefits. The provisions of this ASU are effective for years beginning after December 15, 2019, with early adoption permitted. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. The Company has adopted this guidance effective as of January 1, 2020, the provisions of which will not impact existing fair value measurements.</span></div><div style="text-align:justify;"><span><br/></span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">In August 2018, the FASB issued ASU 2018-15, "Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract." The new standard provides updated guidance surrounding implementation costs associated with cloud computing arrangements that are service contracts. The provisions of this ASU are effective for years beginning after December 15, 2019. The Company adopted the provisions of this guidance prospectively as of January 1, 2020. There was no material impact upon adoption and the Company does not expect the provisions of this update to have a material impact on the condensed consolidated financial statements.</span></div><div style="text-align:justify;"><span><br/></span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;">Recently Issued Accounting Standards</span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">In August 2018, the FASB issued ASU 2018-14, "Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20): Disclosure Framework-Changes to the Disclosure Requirements for Defined Benefit Plans." The new standard modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The provisions of this ASU are effective for years beginning after December 15, 2020, with early adoption permitted. The new standard requires the amendments to be applied on a retrospective basis for all periods presented. The Company is currently in the process of evaluating the impact of the pronouncement and does not expect the adoption of this guidance to have a material impact on the condensed consolidated financial statements.</span></div><div style="text-align:justify;"><span><br/></span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">In December 2019, the FASB issued ASU 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes." The new standard simplifies income tax accounting requirements by removing certain exceptions to the general principles in Topic 740, Income Taxes. The provisions of this ASU are effective for years beginning after December 15, 2020 with early adoption permitted. The Company is currently in the process of evaluating the impact of the pronouncement and does not expect the adoption of this guidance to have a material impact on the condensed consolidated financial statements.</span></div>In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting." The new standard provides optional expedients and exceptions for applying generally accepted accounting principles ("GAAP") to contracts, hedging relationships, and other transactions affected by reference rate reform and the anticipated discontinuance of the London Interbank Offered Rate ("LIBOR") if certain criteria are met. The amendments in this ASU are effective for all entities as of March 12, 2020, through December 31, 2022. The Company does not currently have any contracts that have been changed to a new reference rate but will continue to evaluate the applicability and impact of the guidance.
us-gaap Number Of Operating Segments
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2 segment
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2020Q2 us-gaap Number Of Countries In Which Entity Operates
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90 country
CY2020Q2 swm Number Of Production Locations
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24 production_location
us-gaap Use Of Estimates
UseOfEstimates
<div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;">Use of Estimates</span></div><div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> </span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The preparation of financial statements in conformity with U.S. GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses and related disclosures of contingent assets and liabilities in the condensed consolidated financial statements and accompanying notes. Estimates are used for, but not limited to, inventory valuation, useful lives of tangible and intangible assets, fair values, sales returns and rebates, receivables valuation, pension, postretirement and other benefits, restructuring and impairment, taxes and contingencies. Furthermore, the Company considered the potential impact from the global economic and social disruption caused by the novel coronavirus (“COVID-19”) in estimates used in the Company’s financial statements as of and for the period ended June 30, 2020. The Company determined changes to these estimates did not have a material impact on our assessment of recoverability of our assets, including Accounts receivable, net, Goodwill, Intangible assets or long-lived assets. There may also be long-term undetermined effects on some of our customers and suppliers, and as a result of these uncertainties, actual results could differ materially from these estimates and assumptions.</span></div>
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2 revenue_source
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
254200000 USD
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
269900000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
515700000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
527900000 USD
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
254200000 USD
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
269900000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
515700000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
527900000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
500000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-800000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
1300000 USD
CY2019Q2 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
1700000 USD
CY2019Q2 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-400000 USD
CY2019Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
2100000 USD
us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
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us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-4100000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-14400000 USD
us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
-1000000.0 USD
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-3800000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
2800000 USD
CY2020Q2 swm Business Combination Provisional Information Initial Accounting Incomplete Adjustment Cash And Cash Equivalents
BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentCashAndCashEquivalents
-500000 USD
CY2020Q2 swm Business Combination Provisional Information Initial Accounting Incomplete Adjustment Accounts Receivable
BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentAccountsReceivable
-200000 USD
CY2020Q2 us-gaap Business Combination Provisional Information Initial Accounting Incomplete Adjustment Inventory
BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentInventory
100000 USD
CY2020Q2 swm Business Combination Provisional Information Initial Accounting Incomplete Adjustment Other Current Assets
BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentOtherCurrentAssets
0 USD
CY2020Q2 us-gaap Business Combination Provisional Information Initial Accounting Incomplete Adjustment Property Plant And Equipment
BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentPropertyPlantAndEquipment
0 USD
CY2020Q2 us-gaap Business Combination Provisional Information Initial Accounting Incomplete Adjustment Intangibles
BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentIntangibles
-3400000 USD
CY2020Q2 swm Business Combination Provisional Information Initial Accounting Incomplete Adjustment Other Noncurrent Assets
BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentOtherNoncurrentAssets
400000 USD
CY2020Q2 swm Business Combination Provisional Information Initial Accounting Incomplete Adjustment Assets
BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentAssets
-3600000 USD
CY2020Q2 swm Business Combination Provisional Information Initial Accounting Incomplete Adjustment Accounts Payable
BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentAccountsPayable
600000 USD
CY2020Q2 swm Business Combination Provisional Information Initial Accounting Incomplete Adjustment Other Current Liabilities
BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentOtherCurrentLiabilities
-1600000 USD
CY2020Q2 swm Business Combination Provisional Information Initial Accounting Incomplete Adjustment Other Noncurrent Liabilities
BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentOtherNoncurrentLiabilities
0 USD
CY2020Q2 swm Business Combination Provisional Information Initial Accounting Incomplete Adjustment Net Assets Acquired
BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentNetAssetsAcquired
-2600000 USD
CY2020Q2 us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
800000 USD
CY2020Q2 us-gaap Business Combination Provisional Information Initial Accounting Incomplete Adjustment Consideration Transferred
BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentConsiderationTransferred
-1800000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
21500000 USD
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
20500000 USD
us-gaap Net Income Loss
NetIncomeLoss
44000000.0 USD
us-gaap Net Income Loss
NetIncomeLoss
37900000 USD
CY2020Q2 us-gaap Distributed Earnings
DistributedEarnings
200000 USD
CY2019Q2 us-gaap Distributed Earnings
DistributedEarnings
100000 USD
us-gaap Distributed Earnings
DistributedEarnings
400000 USD
us-gaap Distributed Earnings
DistributedEarnings
200000 USD
CY2020Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
100000 USD
CY2019Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
100000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
200000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
100000 USD
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
21200000 USD
CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
20300000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
43400000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
37600000 USD
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30792600 shares
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30661400 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30752500 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30641100 shares
CY2020Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
214100 shares
CY2019Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
147900 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
205900 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
149900 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30791000.0 shares
CY2019Q4 us-gaap Inventory Net
InventoryNet
161400000 USD
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31006700 shares
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30809300 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30958400 shares
CY2020Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
72100000 USD
CY2019Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
61100000 USD
CY2020Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
23700000 USD
CY2019Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
20700000 USD
CY2020Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
65400000 USD
CY2019Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
65300000 USD
CY2020Q2 us-gaap Inventory Supplies Net Of Reserves
InventorySuppliesNetOfReserves
10900000 USD
CY2019Q4 us-gaap Inventory Supplies Net Of Reserves
InventorySuppliesNetOfReserves
14300000 USD
CY2020Q2 us-gaap Inventory Net
InventoryNet
172100000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
25200000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
25200000 USD
CY2019Q4 us-gaap Goodwill
Goodwill
337400000 USD
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
61200000 USD
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-700000 USD
CY2020Q2 us-gaap Goodwill
Goodwill
397900000 USD
CY2020Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
6400000 USD
CY2019Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5100000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
11300000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
10200000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
25200000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
25200000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
25200000 USD
CY2020Q2 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
1600000 USD
CY2019Q2 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
400000 USD
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
1700000 USD
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
400000 USD
CY2019Q4 us-gaap Restructuring Reserve
RestructuringReserve
500000 USD
CY2018Q4 us-gaap Restructuring Reserve
RestructuringReserve
1400000 USD
us-gaap Restructuring Charges
RestructuringCharges
1700000 USD
CY2019 us-gaap Restructuring Charges
RestructuringCharges
3700000 USD
us-gaap Payments For Restructuring
PaymentsForRestructuring
800000 USD
CY2019 us-gaap Payments For Restructuring
PaymentsForRestructuring
4200000 USD
us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
0 USD
CY2019 us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
-400000 USD
CY2020Q2 us-gaap Restructuring Reserve
RestructuringReserve
1400000 USD
CY2019Q4 us-gaap Restructuring Reserve
RestructuringReserve
500000 USD
CY2020Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
5200000 USD
CY2019Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
5900000 USD
CY2020Q2 us-gaap Long Term Debt
LongTermDebt
669000000.0 USD
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
542700000 USD
CY2020Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
2600000 USD
CY2019Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
1900000 USD
CY2020Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
666400000 USD
CY2019Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
540800000 USD
CY2020Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
5200000 USD
CY2019Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
5900000 USD
CY2020Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
2200000 USD
CY2020Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
3900000 USD
CY2020Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
3900000 USD
CY2020Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
130300000 USD
CY2020Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
2500000 USD
CY2020Q2 swm Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
531400000 USD
CY2020Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
674200000 USD
CY2020Q2 us-gaap Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
8100000 USD
CY2020Q2 us-gaap Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
16400000 USD
CY2019Q4 us-gaap Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
11200000 USD
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.198
CY2019Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
11300000 USD
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.208
CY2019Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.197
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.199
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
254200000 USD
CY2020Q2 swm Sales Revenue Net Percentage
SalesRevenueNetPercentage
1.000
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
269900000 USD
CY2019Q2 swm Sales Revenue Net Percentage
SalesRevenueNetPercentage
1.000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
515700000 USD
swm Sales Revenue Net Percentage
SalesRevenueNetPercentage
1.000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
527900000 USD
swm Sales Revenue Net Percentage
SalesRevenueNetPercentage
1.000
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
34400000 USD
CY2020Q2 swm Operating Profit Percentage
OperatingProfitPercentage
1.000
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
44200000 USD
CY2019Q2 swm Operating Profit Percentage
OperatingProfitPercentage
1.000
us-gaap Operating Income Loss
OperatingIncomeLoss
68500000 USD
swm Operating Profit Percentage
OperatingProfitPercentage
1.000
us-gaap Operating Income Loss
OperatingIncomeLoss
74600000 USD
swm Operating Profit Percentage
OperatingProfitPercentage
1.000
CY2020Q2 us-gaap Assets
Assets
1578100000 USD
CY2019Q4 us-gaap Assets
Assets
1471700000 USD

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